According to the New York Post, insiders were speculating that CIT became nervous after seeing J.C. Penney’s financials when it met with company officials Tuesday.

A source close to the situation told the newspaper that CIT likely “got a thorough briefing and didn’t like what they heard.”

A CIT spokesperson said the company does not comment on specific customers. J.C. Penney did not immediately respond to a request for comment.

The Plano, Texas-based retailer is trying to turn things around after former Chief Executive Ron Johnson’s everyday-low-price strategy failed to attract customers. In April, the company brought back former CEO Mike Ullman to take the helm.